Four arrested for cheating several on the pretext of arranging bank loans

The Central Crime Branch (CCB) of the Avadi City Police has arrested four persons who alleged cheated several on the pretext of arranging bank loans.

According to police, Kayalvizhi, 34, lodged a complaint alleging that the accused were operating a firm named Sam Hyper Business (P) Ltd, Paruthipattu, claiming to arrange bank loans. They allegedly lured the complainant with assurances of securing a ₹5 lakh loan at low interest within a short period through a bank. Believing their claims, the complainant visited the firm in January 2023 and submitted required documents, including Aadhaar and PAN card.

The complainant was then taken to Karur Vysya Bank, Poonamallee, where a bank account was opened in her name. The accused obtained the bank kit and signatures on blank cheques and made the complainant speak to bank officials through video conferencing to complete verification, assuring her that the loan would be credited soon.

However, the accused allegedly received the loan amount and later informed the complainant that the loan had been cancelled. Using the complainant’s ATM card, they misappropriated the loan amount of ₹38.88 lakh credited in her name for their personal use.

Further investigation revealed that the accused had employed a similar modus operandi with 15 persons, inducing them with promises of arranging bank loans, obtaining signatures on documents, and securing bank loans in their names to the tune of ₹2.12 crore. The accused allegedly opened IDs in the complainants’ names, misused the passwords, and diverted the loan amounts for personal gain, thereby cheating both the public and the banks.

The four arrested have been identified as Sarah alias Josephine Beula, 40, P.Karthikeyan, 38, Dinakaran, 40, and Chitra, 39, of Pattabiram.

Police have seized fake rubber stamps and the bank cheque books of the cheated persons from them.